Zoran, Primo Water, Newcastle Pace The Markets Gains

The Markets are posting gains this morning looking to see its first weekly gains after a six week losing streak. All of the major indexes are up this morning with down climbing 75 points. The Nasdaq and S&P 500 have climbed as well rising 8 points each. The rebound today comes on news that Germany is planning on helping to bailout Greece with its debt crisis. There has also been a report that an index of the leading economic indicators rose .8% to lead analyst to believe that we are in a period of slow recovery after the index had dropped in April. There are several stocks performing well today lets see who heads that list.

Zoran Corporation (Nasdaq:ZRAN) shares are up this morning climbing 17% to $8.43 per share. Volume is up as well and is trading ten times more than the average on news that CSR PLC has agreed to a reduce purchase price of $484 million for the chip maker. The price has been reduce 30% after Zoran’s deteriorating performance and Cisco’s decision to abandon the Flip Video Camera. The deal calls for CSR to pay ZRAN $6.26 cash and .589 shares for each Zoran share. The original deal called for CSR to pay $9.19 per share.

Primo Water Corporation (Nasdaq: PRMW) share are up 16% this morning to $13.10 per share. Volume for PRMW is up as well on news that the company has announced pricing for a public offering of nearly 6 million shares. The shares being sold consist of 3,421,369 to be sold by Primo and 2,578,631 shares being sold by other entities at a public price of $11.26 per share. The offering is expected to close on or about June 22, 2011.

The final big mover of the day is Newcastle Investment Corporation (NYSE:NCT) which has climbed 28% to $5.64 per share. Volume has more than double today on news that Newcastle has declared a quarterly dividend of $.10 per share for the second quarter. The dividend is payable on 29th of July to shareholders of record on July 5th.The board of directors also declared a dividend for the company’s series B,C,D stock.

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About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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